Bitmine Adds 19.6M in ETH, Repurchases 4.5M Shares Amid Ongoing Accumulation

Bitmine Immersion Technologies, an ether treasury company, has added $19.6 million in ETH to its holdings and repurchased 4.5 million shares as part of its ongoing crypto accumulation and stock-buyback program.

The company revealed it now holds 5,797,813 Ether (ETH) worth $10.9 billion, representing about 4.8% of the total circulating supply of 120.7 million ETH. Bitmine is targeting a 5% stake in the total ETH supply.

In addition to its massive ETH holdings, Bitmine's balance sheet includes 209 BTC, $173 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings. The combined value of these assets is approximately $11.3 billion.

Under its previously authorized $4 billion buyback program, Bitmine has repurchased a total of 16.1 million common shares since July 1, including the 4.5 million shares purchased last week.